NuVox Communications and FDN Communications said on Wednesday they will merge in a deal that will result in more than 90,000 customers and 1 million voice and data lines.
The transaction is expected to close in June. Financial details were not disclosed; both CLECs are privately held. However, they said their combined annual revenue will surpass $500 million. Thats about the same as two other recently merged East Coast providers, Broadview and InfoHighway.
NuVox and FDN will keep the NuVox name. Jim Akerhielm, NuVox CEO, will retain that title while FDN CEO Mike Gallagher will become president of strategic markets.
Products and services will remain IP-focused and include private networking, Web hosting and data connectivity and storage for business customers.
NuVox will keep its headquarters in Greenville, S.C. FDN operates out of Maitland, Fla., and NuVox will maintain sales, customer and technical personnel in both Greenville and Maitland.
The new NuVoxs board of directors will consist of David Solomon as chairman of the board; Akerhielm and Gallagher; Jim Wade and Gillis Cashman of MC Venture Partners; James H. (Jamie) Greene Jr. of Kohlberg Kravis Roberts and Co.; Scott Perper of Wachovia Capital Partners; and Jim Fleming of Columbia Capital Partners.
FDN Communications www.fdn.com
NuVox Communications www.nuvox.com
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January 16 2019 @ 18:48:27 UTC